October 2, 2019 / 5:26 AM / 20 days ago

Credit Suisse says changes to result in $250 mln profit boost

ZURICH, Oct 2 (Reuters) - Credit Suisse on Wednesday said it expects an estimated $250 million boost to profit from changes the Swiss bank is making to how it calculates risk-weighted assets and does hedging.

“The increase in net interest income will be hedged over at least a two-year period, reducing the volatility of this incremental revenue,” Credit Suisse said in a statement. “Based on this hedging strategy and current market-implied forward rates, the increase is estimated at approximately $250 million on a full-year basis.”

The bank decided to continue to report financial results in Swiss francs.

Reporting by John Miller; Editing by Michael Shields

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